Debt-for-equity swap registration required
Debt must be evaluated and verified
Issue: December 2011/January 2012
On November 23, the State Administration of Industry and Commerce (SAIC) released the Measures for the Administration of the Registration of the Debt-for-equity Swaps of Companies (公司债权转股权登记管理办法) (the Measures) which will go into effect on January 1 2012.
Though local branches of the SAIC had previously released their own tentative rules to govern debt-for-equity swaps, the Measures are the first ever national-level rules to regulate the administration of registration of debt-for-equity swaps. The government issued the new rules in response to reports that domestic companies were having funding...
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